“That’s what creates a valuable asset. Data centers have long-term contracts and secure revenue streams from the demand for cloud services in the corporate and government sectors, ”Tudehope said.
In fiscal 2021, the company completed construction of the South Bunker extension of its Canberra data center complex in December.
Macquarie Telecom has also completed work on the first phase of its new data center complex called Intellicentre 3 (IC3) at its Macquarie Park campus. He plans to inaugurate the main “Super West” part of IC3 by the end of 2023.
Macquarie’s plan “a lot” of high investment
“This is really the plan. We will continue to have high levels of capital spending, ”Tudehope said. “This translates into much higher levels of depreciation and amortization. So as the profits increase, the profits decrease.
“From our point of view, the result is really strong. “
The company’s shares slipped as much as 1.6 percent to $ 74.82 at the start of trading, but had rallied by early afternoon to be up 0.4 percent to 76 , $ 28.
When asked if the company would still be attractive to investors if it continued to invest in new projects at the expense of profits, Mr. Tudehope replied, “Well, if you watch NextDC, then yes.”
NextDC is another player in the data center space aggressively improving its capacity and, despite analysts’ projections that it will report its third consecutive after-tax loss when the annual accounts are released on Friday, saw the price of the share increase by around 11.5% in year-to-date terms.
“This is normal across the industry,” Mr. Tudehope said. “We are not a mature infrastructure company, but we are a growing infrastructure company and that is a hallmark of that. “